Mon.Oct 21, 2024

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90% of Insurers Have GenAI Budgets; 10% Can Fully Comply With AI Regs

Insurance Journal

Data and technology leaders at insurance organizations are gung ho about using GenAI to increase customers satisfaction, reduce operating costs and improve risk management, but few are fully ready to comply with regulations or to monitor AI results.

Risk 277
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Lessons For Expert Damage Estimators From Kermith Sonnier’s Back-To-Life Legal Highlight

Property Insurance Coverage Law

I thought my last blog mentioning my friend Kermith Sonnier would be Public Adjuster Kermith Sonnier Passes. The Fifth Circuit Court of Appeals changed that with an extensive discussion of Kermith’s expert damages testimony and opinions in the case analyzed in yesterday’s post, Church Mutual Prevails in Latest Hurricane Laura Bad Faith Case: Key Differences … The post Lessons For Expert Damage Estimators From Kermith Sonnier’s Back-To-Life Legal Highlight appeared first on Property Insuran

Damage 100
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Former Iowa Insurance Producer Sentenced for Wire Fraud and Money Laundering

Insurance Journal

William Berg, an insurance producer and former financial advisor from Waukee, Iowa, was sentenced to nine years in prison on Friday after pleading guilty in federal court to wire fraud and money laundering charges.

Insurance 270
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Worried About Lead in Your Workplace?

CDC: Workers Compensation

Our goal in public health is to keep people safe from the hazards around them including in the workplace. If you are worried about lead or other possible hazards in your worksite, there is something you can do about it. There’s a program for that The National Institute for Occupational Safety and Health’s Health Hazard Evaluation Program was created to alleviate and address these kinds of concerns.

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North-Central Italy Sees Floods, Road Closures After Heavy Rains

Insurance Journal

Floods engulfed parts of north-central Italy from overflowing rivers following days of heavy rain, prompting the state-led road operator to close some expressways. Severe flooding was seen in the region of Emilia Romagna on Sunday.

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Maersk commences Ukraine weekly feeder service

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Maersk commences Ukraine weekly feeder service appeared first on Insurance Marine News.

Marine 59
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Texas Reaches $3.5M Settlement With Marriott Over Customer Data Breach

Insurance Journal

Texas Attorney General Ken Paxton announced the state has secured a settlement with Marriott International, Inc., that resolves an investigation into a breach of one of the company’s reservation databases.

Cyber 258

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Cuba Hit by Tropical Storm Oscar as It Struggles to End Blackout

Insurance Journal

Cuba was dealing with heavy rains and winds today from Tropical Storm Oscar, even as it continues to deal with a prolonged blackout affecting a large swath of the island. According to the U.S.

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Diana Shipping fixes $80m refinancing with Danish lender

Splash: Finance and Insurance

Greek bulker owner Diana Shipping has struck a refinancing deal with Danish Ship Finance. The Danish lender has provided $80.2m to the New York-listed company to refinance the existing loan the duo previously agreed to and originally maturing in April 2028 while secured by nine vessels.

Insured 59
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FBI Arrests Man Over SEC Hack, Alleging Bitcoin Manipulation

Insurance Journal

A 25-year-old Alabama man was arrested on Thursday for hacking the U.S. Securities and Exchange Commission’s X account this year as part of an alleged conspiracy to manipulate bitcoin prices, U.S. prosecutors said.

Cyber 234
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Singapore agencies working with Shell to clean up 30 to 40 tonnes of leaked slop

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Singapore agencies working with Shell to clean up 30 to 40 tonnes of leaked slop appeared first on Insurance Marine News.

Marine 59
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Markets/Coverages MGA Pen Underwriting Relaunches Large Corporate Cyber Offering

Insurance Journal

Pen Underwriting has relaunched its cyber proposition for large corporate clients with a comprehensive rebuild that sees it re-enter primary cover for this end of the market, double its excess of loss (XOL) limit and introduce a significantly broader risk …

Cyber 232
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Cigar Smokers Never Pay Smoker Life Insurance Rates!

RiskQuoter

Cigar smokers – you can get non-smoker life insurance rates! We'll show you which companies offer the best deals based on how often you smoke. Our expertise and competitive rates will save you money. The post Cigar Smokers Never Pay Smoker Life Insurance Rates! appeared first on RiskQuoter.com.

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South Africa Mulls Rules for Catastrophe Bonds, Climate Cover

Insurance Journal

South Africa’s National Treasury is exploring regulations to encourage the use of financial instruments to tackle climate change, including catastrophe bonds and parametric insurance.

Insured 222
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Juneau voters reject cruise ship ban

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Juneau voters reject cruise ship ban appeared first on Insurance Marine News.

Marine 59
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BHP Faces $47 Billion UK Lawsuit Over Brazilian Dam Collapse

Insurance Journal

A hearing in a lawsuit against BHP over Brazil’s worst environmental disaster, the 2015 collapse of the Mariana dam, will begin at London’s High Court on Monday, with claimants seeking up to 36 billion pounds ($47 billion) in damages.

Damage 218
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Vessel sinks after Dakar allision

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Vessel sinks after Dakar allision appeared first on Insurance Marine News.

Marine 59
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Murdoch Firms Dow Jones and New York Post Sue Perplexity AI

Insurance Journal

Media baron Rupert Murdoch’s Dow Jones and New York Post filed a lawsuit against Perplexity AI on Monday, claiming the AI startup engages in a “massive amount of illegal copying” of their copyrighted work.

Claim 214
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Crew member seriously hurt by mooring line

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Crew member seriously hurt by mooring line appeared first on Insurance Marine News.

Marine 52
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China’s Ping An Insurance Posts 36.1% Rise in 9-Month Profit

Insurance Journal

Ping An Insurance (Group) Co. of China Ltd. reported on Monday a 36.1% rise in net profit in the first nine months of the year, driven by growing investment returns and new policies sold as the economy recovers.

Insurance 205
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Consol Energy sues owner and manager of the Dali

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Consol Energy sues owner and manager of the Dali appeared first on Insurance Marine News.

Marine 52
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Meta Must Face Massachusetts Social Media Addiction Lawsuit

Insurance Journal

Meta Platforms must face a lawsuit by Massachusetts alleging the social media company purposely deployed features on its Instagram platform to addict young users and deceived the public about the dangers it posed to the mental health of teenagers, a …

Liability 191
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Marine round-up : 22nd October 2024

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Marine round-up : 22nd October 2024 appeared first on Insurance Marine News.

Marine 52
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Colorado Mine Where Guide Was Killed, Tourists Trapped Ordered Closed by Regulators

Insurance Journal

A former Colorado gold mine where a tour guide was killed and a group of tourists was trapped for hours after an elevator accident has been ordered to remain closed and not conduct tours while its operations are reviewed, state …

Liability 165
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Most Lebanon ports still operating

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post Most Lebanon ports still operating appeared first on Insurance Marine News.

Marine 52
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Train Derails in South Louisiana, Causing Chemical Leak

Insurance Journal

DONALDSONVILLE, La. (AP) — Seventeen cars of a train derailed in south Louisiana on Friday, and several leaked a chemical used to sanitize swimming pools, but authorities said it was not a threat to the public.

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“The Russians are compromising security on Northern Sea Route”

Insurance Marine News

You need to be logged in to view this content. Please Log In. Not a Member? Join Us The post “The Russians are compromising security on Northern Sea Route” appeared first on Insurance Marine News.

Marine 40
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Midwest Chicken Farmers Struggle to Feed Flocks After Closure of Producer

Insurance Journal

Dozens of farmers in Iowa, Minnesota and Wisconsin are scrambling to feed their flocks after a struggling organic broiler chicken producer abruptly closed a year after getting a $39 million federal loan.

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Buying Your First Home? Know Your Insurance

Triple-I: Homeowners Insurance

By Lewis Nibbelin, Contributing Writer, Triple-I First-time buyers comprised only 32 percent of the housing market in 2023, according to an annual profile by the National Association of Realtors. Though higher compared to 2022, this number is a stark drop from the 38 percent annual average since 1981. The ongoing risk crisis and housing shortage, paired with rising mortgage rates, compound the issues prospective property owners typically face when purchasing real estate.

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Vale-BHP Mine Disaster Deal Moves Closer to Settlement in Brazil

Insurance Journal

Miners Vale SA and BHP Group are a step closer to finalizing a deal with Brazilian authorities to provide a multibillion-dollar settlement for one of the country’s worst mining disasters.

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Everything You May or May Not Want to Know About Temporary Disability Benefits Under New Jersey Workers’ Compensation Law

New Jersey Workers' Comp

There are many issues that arise regarding the payment of temporary disability benefits under the New Jersey Workers’ Compensation Act. This blog will cover some of the basic issues and some of the complex issues. Q. When is an employee eligible for temporary disability benefits? The employee must have lost more than seven days of time due to a work injury or occupational disease (not necessarily consecutive days) in order to receive payment of temporary disability benefits.

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Manhattan’s The Vessel, Closed After Suicides, Reopens With New Safety Features

Insurance Journal

The Vessel, a towering, honeycomb-like sculpture in Manhattan that was popular with tourists before a series of suicides forced its closure in 2021, will reopen Monday with new safety features.

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California Department of Workers’ Comp Announces Temporary Total Disability Rates for 2025

Insurance Journal

California’s 2025 minimum and maximum temporary total disability rates will increase on Jan. 1, 2025, the Division of Workers’ Compensation announced. The minimum TTD rate will increase from $242.86 to $252.03, and the maximum TTD rate will increase from $1,619.

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Town’s Highway Supervisor Not Exempt From Liability for Crash

Insurance Journal

A New York town’s highway superintendent is not protected from liability for a collision with another vehicle because he was not actually engaged in work on a highway at the time of the accident, New York’s highest court recently ruled, …

Liability 147
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Hilcorp Fined $9.4 Million for New Mexico Methane Emissions

Insurance Journal

Hilcorp Energy Co., the privately held oil producer run by billionaire Jeff Hildebrand, will pay a $9.4 million civil penalty for failing to reduce emissions of methane and volatile gases in New Mexico.

Damage 147
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Starr Insurance Receives License to Sell Commercial Insurance Across South Korea

Insurance Journal

Starr Insurance reported that South Korea’s Financial Services Commission has granted Starr International Insurance (Singapore) Pte. Ltd., Korea branch, a license to operate in Seoul and begin selling commercial property/casualty insurance throughout Korea.

License 147
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Appeals Court Says Experts Must Show Causal Relationship in BP Oil Workers’ Suits

Insurance Journal

A federal appeals court has underscored the high bar that expert witnesses must meet before a court can connect the dots between exposure and illness, a ruling that could have an impact on insurance claims and toxic tort litigation.